RAO UES finds investor

RAO UES has started implementing its first project aimed at showing international investors that investment in the Russian electric power industry is attractive. Last week head of RAO UES Anatoly Chubais and board chair of E.ON Energie, structural unit of the German energy company E.ON, Hans-Dieter Harig signed a letter of intention supporting research of the possibility of building power producing facilities up to 1,000 megawatts in Russia. "Due to the implementation of this project E.ON Energie and RAO UES want to show foreign investors that there is a real possibility of building a power station in Russia using international investments", a RAO press release says. E.ON considers the signed letter as a sign of its own international expansion. "The subject of this agreement is conducting a joint feasibility study of a possible project of modernization or building of a new power station with the capacity of 1,000 megawatts", official representative of E.ON Energie said to the Vremya Novostey newspaper journalist. "By November 30, 2002 we are to come to a certain conclusion: whether such a project is possible from different viewpoints, or not". According to the RAO UES press release, it is planned to build a power station "in the North Western or central region of Russia", Vremya Novostey reports.

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